Income Protection insurance is there for if you become sick or injured and need to take time off work. The cover will pay out part of your monthly income, helping you to still live comfortably and protect your finances whilst you recover. You will not pay tax on the payments you receive meaning the payments can replace most of your salary, depending on how much cover you choose.
The premium will all depend on factors such as your age, medical history and familys medical history, your job, income level, alcohol consumption, if you are a smoker and what type of cover you choose. We can look for the best level of cover, from the higher rated insurers, ensuring you get your moneys worth.
With Income Protection you have what is known as a waiting period or deferred period. This is how long you will wait until you are able to receive pay outs from your policy. This should usually be in line with your sick pay meaning when your sick pay stops from your employer, your income protection will kick in so you will not be without income. The longer the deferred period is, the more affordable your premium will be.
We highly recommend speaking to the experts, us! We can set up income protection and get the best quotes from our 5 star defagto rated Insurance providers. You will have your own dedicated adviser who will review your insurances for you each year to ensure it continues to meet your needs. It is free of charge for us to do this so why not give us a call on 01623 622611 or Book an Initial Consultation now!